Chongqing General Trading Co., Ltd agreed to acquire Chongqing General Trading Info-Technology Co., Ltd. from Chongqing Department Store Co.,Ltd. for CNY 13.8 million.
January 04, 2017
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Chongqing General Trading (Group) Co., Ltd agreed to acquire Chongqing General Trading Info-Technology Co., Ltd. from Chongqing Department Store Co.,Ltd. (SHSE:600729) for CNY 13.8 million on December 30, 2016. Chongqing General Trading (Group) Co., Ltd signed an equity transfer agreement to acquire Chongqing General Trading Info-Technology Co., Ltd. from Chongqing Department Store Co.,Ltd. on December 31, 2016. In a related transaction, Chongqing General Trading (Group) Co., Ltd agreed to acquire Chongqing General Trading Electronic Sales Co., Ltd. from Chongqing Department Store Co.,Ltd. for CNY 3.2 million on December 30, 2016. During the year ended December 2016, Chongqing General Trading Info-Technology Co., Ltd. reported revenues of CNY 872.18 million, total assets of CNY 962.96 million, net loss of CNY 22.7 million and net assets of CNY 13.84 million. The transaction was approved by the Board of Chongqing Department Store Co.,Ltd. and does not require any regulatory authorities approval.
Chongqing Department Store Co Ltd is a China-based company mainly engaged in the department store and supermarket business. The Company's segments include Department Stores Segment, Supermarkets Segment, Electrical Appliances Segment, Automobile Trading Segment and Real Estate and Engineering Segment. The Company's business involves comprehensive department stores, shopping malls, boutique supermarkets, supermarkets, electrical appliance stores, automobile trade brand stores and others. The Company owns trademarks and commercial brands such as âChongqing Department Store', New Century Department Store', 'Shangshe Electrical Appliancesâ, and âShangshe Automobile Tradeâ. The Company operates its business in domestic market.
Chongqing General Trading Co., Ltd agreed to acquire Chongqing General Trading Info-Technology Co., Ltd. from Chongqing Department Store Co.,Ltd. for CNY 13.8 million.
CHONGQING DEPARTMENT STORE CO.,LTD. 
